Work begins on Senegal's inaugural offshore oil venture.
Senegal joins the list of oil-producing countries as Woodside Energy begins production at its first offshore oil project in the nation. The Australian energy firm launched the Sangomar field on Tuesday, marking a historic milestone. CEO Meg O'Neill expressed her excitement, describing it as a special day for both Senegal and Woodside.
The offshore floating platform is located approximately 100 kilometers from the coast and can store up to 1.3 million barrels. The project intends to produce 100,000 barrels of oil per day, and the field also contains natural gas. Woodside owns an 82% stake in the project, with the rest controlled by Senegal's national oil company, Petrosen.
Senegal is also progressing with a liquid natural gas project on the border with Mauritania, where production is estimated to commence in the third quarter. Here, British energy company BP plays a part. Although Senegal's fossil fuel production will likely be much lower than that of the largest African producer, Nigeria, the country hopes for income in the billions.
However, the pursuit of these resources has lead to concerns that corruption will thrive, and the majority of the population in the impoverished nation will see little benefit. The Senegalese government in Dakar continues to exploit the resources despite environmental and climate activists' criticisms and efforts by various countries to decrease their reliance on fossil fuels.
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The 'Offshore oil project' in Senegal is considered more important for the country's economic growth, as it's expected to generate billions in income. The successful commissioning of this 'milestone' offshore oil project, the Sangomar field, further 'Promotes' Senegal as a significant player in the global oil industry.
